President Joe Biden on Sunday slammed Republican demands in negotiations to resolve the US debt ceiling standoff as  “unacceptable” but said a solution can still be found before a disastrous default.

Bangladesh has again demanded that garments made from US cotton be provided duty-free access to the American markets as the government has withdrawn a provision requiring fumigation of American cotton, Senior Commerce Secretary Tapan Kanti Ghosh said yesterday.

The United States and Taiwan have concluded negotiations on a trade agreement to deepen economic ties, amid growing tensions between Washington and Beijing.

The sight of a tired-looking top White House domestic policy adviser in a Hiroshima hotel said it all: President Joe Biden may be on the other side of the world but his political fight back home over the debt ceiling has followed him.

US banks tightened lending standards in the first few months this year, and expect this to continue over the rest of 2023, said a Federal Reserve survey released on Monday.

Hiring in the United States picked up pace in April and unemployment returned to a multidecade low, government data showed Friday, signaling labor market resilience despite higher interest rates to tackle inflation.

The Federal Reserve moved its management of the post-pandemic economic recovery into a new phase on Wednesday with what may be the last in a historic series of interest rate hikes and heightened attention to credit and other economic risks.

The second-largest bank in US by assets, First Republic, collapses nearly two months after the fall of Silicon Valley Bank

US consumer confidence fell more than many predicted in April, fueled by a deterioration in expectations among Americans over 55 and households with annual incomes over $50,000, according to survey data released Tuesday.

US Treasury Secretary Janet Yellen on Tuesday warned that failure by Congress to raise the government’s debt ceiling - and the resulting default - would trigger an “economic catastrophe” that would send interest rates higher for years to come.

Lending declined in many parts of the United States over recent weeks, the Federal Reserve announced Wednesday, amid financial sector troubles unleashed by the rapid collapse of Silicon Valley Bank (SVB).

The United States seeks a  “constructive and fair economic relationship” with China, even as Washington holds firm in defending the country’s national security, Treasury Secretary Janet Yellen said in prepared remarks Thursday.

Consumers are starting to fall behind on their credit card and loan payments as the economy softens, according to executives at the biggest US banks, although they said delinquency levels were still modest.

Deposits at three financial institutions fell in the first quarter as the industry’s biggest crisis in more than a decade prompted a flight of funds, with customers seeking better returns elsewhere.

Economic sanctions imposed on Russia and other countries by the United States put the dollar’s dominance at risk as targeted nations seek out an alternative, Treasury Secretary Janet Yellen said Sunday.

Banks in the Middle East and Central Asia have very limited exposure to last month’s banking turmoil in the United States and Europe, but financial pressures are adding to strains caused by high interest rates, volatile oil prices and years of double-digit inflation, a top IMF official said on Saturday.

JPMorgan Chase reported a jump in first-quarter profits Friday alongside fellow banking giants Citigroup and Wells Fargo, in reassuring news to investors after recent banking sector turmoil sparked contagion fears.

Retail sales in the United States slipped more than anticipated in March, according to government data released Friday, extending a downward trend that signals cooling in the economy.

US consumer inflation slowed in March, according to data released Wednesday, but remained well above the Federal Reserve’s target despite numerous interest rate hikes over the last year.

The World Bank should take on added reform measures this year, US Treasury Secretary Janet Yellen said Wednesday, after initial steps to update the global lender’s mission and boost its financing capacity.